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#6159451 - 01/28/16 12:20 PM What is considered a low ball offer when buying land?
chk Offline


Registered: 07/28/09
Posts: 566
Just thought this would be an interesting topic to talk about as we all are always on the lookout for good hunting land and getting it for a steal.

Obviously, lots of variables here...

Let's say a place has very little access other than your road in, does that make the property value go up?

Let's say this is only a hunting spot so you don't care about being close to town Etc, so the lack of access is better.

Obviously water and electric is more valuable.

Let's say there's a property that's 100 acres and has deer, turkey and hogs. Land in the same county within about 10 miles has sold for say 1200 per acre. You find a place nearby that's basically the same and the asking price is 1800 per acre. Would you ask for the 1200 or would that be a low ball offer and piss them off?

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#6159464 - 01/28/16 12:25 PM Re: What is considered a low ball offer when buying land? [Re: chk]
chk Offline


Registered: 07/28/09
Posts: 566
Time on the market will also be a good indicator of your asking price I would say.

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#6159468 - 01/28/16 12:28 PM Re: What is considered a low ball offer when buying land? [Re: chk]
jorge Online   content
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Registered: 02/01/11
Posts: 3943
Loc: Lake Jackson, TX
Land is an investment dont worry about pissing someone off. If anyone has true business sense and believes in capitalism they wont get offended. They might be pissed that they bought land at the "high" or when the market seemed golden and it would never end. Remeber that two properties right next to each other might have different selling prices based on what they were bought at. I see that alot in south texas. Seen it especially with oil boom. Ive seen a couple ranches in my area bought at very inflated prices. Especially if purchased in last couple years. Now those same people are running into cash flow problems and need cash. Look at comps, historical trends in valuation, and base everything on your future worst case financial position.
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#6159476 - 01/28/16 12:32 PM Re: What is considered a low ball offer when buying land? [Re: chk]
jsplinter Offline
Tracker

Registered: 05/11/10
Posts: 794
Loc: Copperas Cove
Sounds like you have already found your land. I would go off comps and I would go off what the tax value is. I am about to close on 14 acres and the only access to it is through an easement cutting through two other peoples property. I didn't like that so I found an acre and a half on the backside that was appraised tax value of 9600 improved and 7400 unimproved. I offered the guy 7K and bought it yesterday. Now I have paved road access to my land which I like a lot more. If other land is being sold for 1200 an acre then I don't think it is lowballing. some people are very proud of their land and their asking price can be just as offending as your offer.
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#6159480 - 01/28/16 12:36 PM Re: What is considered a low ball offer when buying land? [Re: chk]
jorge Online   content
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Registered: 02/01/11
Posts: 3943
Loc: Lake Jackson, TX
There is always a guy out there that wont do any homework and buy something based on if he likes it, and doesnt take into account all the factors needed to make a wise investment. Sounds like that 1800 is geared toward that guy. Especially if that land is paid for and the owner is in no rush to sell.
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#6159481 - 01/28/16 12:37 PM Re: What is considered a low ball offer when buying land? [Re: chk]
Stevarino Offline
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Registered: 01/25/10
Posts: 2070
Loc: Mckinney, TX
It's been said here before, I think by therancher, you make your money at time of purchase.

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#6159486 - 01/28/16 12:41 PM Re: What is considered a low ball offer when buying land? [Re: chk]
redchevy Offline
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Registered: 10/25/04
Posts: 23348
Loc: Texas
Be careful.

Typically having restricted access will decrease the value of the property. Just because a nearby property sold for 1200 doesn't mean its a good indication of value for what your looking at. Was the 1200/acre sale a market sale or was it out of an estate between 20 people just wanting to unload it and get their check, or a forclosure, was it advertised or someone just strolled up and bought it etc. Rural land you need to consider fences, access, floodplain, is it currently under ag.
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#6159487 - 01/28/16 12:41 PM Re: What is considered a low ball offer when buying land? [Re: jorge]
jsplinter Offline
Tracker

Registered: 05/11/10
Posts: 794
Loc: Copperas Cove
Originally Posted By: jorge
There is always a guy out there that wont do any homework and buy something based on if he likes it, and doesnt take into account all the factors needed to make a wise investment. Sounds like that 1800 is geared toward that guy. Especially if that land is paid for and the owner is in no rush to sell.


A good example of this, the acre and a half. I asked the guy next also if he would sell his. He said he just paid 13K for it last year and would sell it for 15K. I said you know its only appraised at 6K and he said he had no idea, just made a handshake deal with a guy. He almost cried after he asked how much I got mine for and I told him half of what he paid for his.....research and then more research
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#6159490 - 01/28/16 12:43 PM Re: What is considered a low ball offer when buying land? [Re: jsplinter]
redchevy Offline
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Registered: 10/25/04
Posts: 23348
Loc: Texas
Originally Posted By: jsplinter
Originally Posted By: jorge
There is always a guy out there that wont do any homework and buy something based on if he likes it, and doesnt take into account all the factors needed to make a wise investment. Sounds like that 1800 is geared toward that guy. Especially if that land is paid for and the owner is in no rush to sell.


A good example of this, the acre and a half. I asked the guy next also if he would sell his. He said he just paid 13K for it last year and would sell it for 15K. I said you know its only appraised at 6K and he said he had no idea, just made a handshake deal with a guy. He almost cried after he asked how much I got mine for and I told him half of what he paid for his.....research and then more research


appraisal district is historically low, especially on smaller rural properties. You may have gotten a great deal, but that doesn't mean his wasn't worth what he paid for it.
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#6159512 - 01/28/16 01:03 PM Re: What is considered a low ball offer when buying land? [Re: chk]
doogie Offline
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Registered: 07/17/08
Posts: 282
Loc: Hill County
I had a property just like this about a 1/2 mile from my place.
Seller wanted $1500 and acre
similar property next to it sold for $1200 and acre and it had , water well, and easy road access to the property.
I offered $1000 an acre since this had no water, no good road access, and most of the place can not even be hunted unless you hike in on foot.
The seller said no to my $1000 offer.
I don't think it offended him since I provided a reason for the price I offered.

Many sellers will list for an extremely high price with the hopes some one will buy it but they don't care if it sells or not.
I did this with a property in Waco. I listed it for triple what I paid 2 years prior and it sold for asking price.


Edited by doogie (01/28/16 01:04 PM)

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#6159518 - 01/28/16 01:08 PM Re: What is considered a low ball offer when buying land? [Re: chk]
Mr. T. Online   content
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Registered: 11/05/14
Posts: 1608
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My 2 cents worth...I would not buy any land that I had to go through someones else's land to get to it. I don't even like the "deeded easements." But that's just me. I can say without a lot of people jumping on me is that very limited access will not make land more valuable to the majority of people who want to buy. Off a county dirt road is good, off a paved road is better. A lot of land...not all...but a lot can be bought for 90% of asking price. Some for a lot less if as ,redchevy, said, it's in an estate and a lot of people are wanting some money.
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#6159574 - 01/28/16 01:54 PM Re: What is considered a low ball offer when buying land? [Re: chk]
HuntnFly67 Offline
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Registered: 07/27/10
Posts: 4494
A low ball offer to me, is an offer at a price that the seller doesn't bother to counter. If you can get the seller talking, then it wasn't a lowball.
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#6159678 - 01/28/16 03:23 PM Re: What is considered a low ball offer when buying land? [Re: jsplinter]
TXHOGSLAYER Online   content
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Registered: 01/12/12
Posts: 11892
Loc: Katy, TX
Originally Posted By: jsplinter
some people are very proud of their land and their asking price can be just as offending as your offer.


very true
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#6159751 - 01/28/16 04:19 PM Re: What is considered a low ball offer when buying land? [Re: chk]
heredeer Offline
Bird Dog

Registered: 01/08/16
Posts: 312
Offer what you are willing to pay - the worst case is NO or no answer

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#6159834 - 01/28/16 05:03 PM Re: What is considered a low ball offer when buying land? [Re: heredeer]
Grosvenor Offline
Pro Tracker

Registered: 10/13/08
Posts: 1233
Loc: Portland, Texas
If I honestly thought someone had their land priced 50% above market, then I wouldn't waste my time with an offer.

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